Centerspace buys Denver apartment community, redeems some preferred shares [Seeking Alpha]
D/B/A Centerspace (CSR)
Company Research
Source: Seeking Alpha
of 6.625% series C cumulative redeemable preferred shares a day earlier, the company said on Wednesday. The company acquired The Lydian, a 129-home apartment community that also includes 23,000 square feet of fully leased office and street-level retail space. The acquisition was financed through the assumption of $35M of mortgage debt, the issuance of $14.5M of common operating partnership units, and cash. Centerspace ( CSR ) also said it sold ~1.59M shares under its at-the-market program for the year through Sept. 30, 2024. Gross proceeds from the ATM sales were ~$113.7M, before fees and expenses, which was used to fund the preferred share redemption and pay down its line of credit. The debt assumed as a result of the acquisition carries an interest rate of 3.72%, is interest-only through January 2032, and matures in February 2037. Operating partnership units were issued at a negotiated value of $76.42 per unit. As part of the purchase price, Centerspace ( CSR ) will provide
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News
- Centerspace (NYSE: CSR) had its "outperform" rating re-affirmed by analysts at Royal Bank of Canada. They now have a $76.00 price target on the stock.MarketBeat
- Centerspace Reports Third Quarter 2024 Financial Results and Raises Mid-Point for 2024 Core FFO per Share GuidancePR Newswire
- Centerspace Q3 2024 Earnings Preview [Seeking Alpha]Seeking Alpha
- Centerspace (NYSE: CSR) was downgraded by analysts at Raymond James from an "outperform" rating to a "market perform" rating.MarketBeat
- CSR or AMH: Which Is the Better Value Stock Right Now? [Yahoo! Finance]Yahoo! Finance
CSR
Earnings
- 10/28/24 - Miss
CSR
Sec Filings
- 11/15/24 - Form 8-K
- 11/8/24 - Form SC
- 10/28/24 - Form 8-K
- CSR's page on the SEC website